Chevron Remains in a Strong Position Despite Weak Fourth Quarter
Chevron remained profitable in the fourth quarter, posting earnings of $415 million as upstream earnings improved on higher commodity prices and lower costs. However, the results were weaker than expected, owing to increased tax and corporate expense and poor downstream results. Downstream earnings fell to $357 million from $1.1 billion a year earlier, as a turnaround at the Richmond refinery resulted in zero earnings from the U.S. segment. In future quarters, both items should revert to more no...Chevron is engaged in energy and chemicals operations. Upstream operations consist primarily of, among others, exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas, storage and marketing of natural gas; and a gas-to-liquids plant. Downstream operations consist primarily of, among others, refining crude oil into petroleum products; marketing of crude oil and refined products; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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